Italy’s ENI will continue to do business in Iran amid US pressure for companies to cut investment in the country, ENI’s chief executive said in an interview published Wednesday.

Iranian Foreign Ministry Spokesman Seyed Mohammad Ali Hosseini said on Tuesday that the visit of IAEA chief Mohamed ElBaradei to Iran is on the agenda but the exact time would be announced after mutual confirmation.

The total cost of the wars in Iraq and Afghanistan is expected to be $1.6 trillion (£770bn) – double the amount President George Bush says it will cost.